"They are growing rapidly," one source says of VistaPrint in calling the firm "a great Massachusetts story." The need follows a 2006 lease of 165,000 sf at Two Ledgemont Center in Lexington now serving as the digital imaging company's headquarters. Aided by DTZ FHO Partners principals Joseph Fallon and Brian Hines, VistaPrint has reportedly been mulling options along Route 128 north from Waltham and up to the Sun Microsystems campus in Bedford.
Acquired last summer by Nordic Properties and the Nordblom Co. for $212 million, the 158-acre Sun campus has 800,000 sf of existing space and the ability to add another 570,000 sf, making it among a handful of parks in Greater Boston that could accommodate VistaPrint's super-sized needs. Nordblom officials and Hines were unavailable to discuss the rumors.
Citizens Bank has also been in an expansion mode of late, but observers could not determine whether the newest requirement reflects any net growth in occupancy. Although one source says the search has not been fully defined, it would supposedly unite offices in Norwood, Quincy and Westwood at a site somewhere between Quincy and Waltham. Richards Barry Joyce & Partners principals Michael Frisoli and Michael Joyce are representing Citizens, sources maintain. Frisoli directed questions to bank management, which did not respond by press deadline. By any measure, "it's huge," says one source familiar with the lease parameters.
A build-to-suit is one potential option Citizens would consider, sources relay, with the occupancy date reportedly around 2011, offering the required time. There are several office buildings proposed in the bank's strike area, but some such as the 105,000-sf Overlook Center in Waltham would apparently not be large enough to accommodate the Citizens heft. RBJ also represents Westwood Station's planned office component, an opportunity Citizens has supposedly considered. Frisoli declined comment on whether Citizens has shown any interest in Westwood Station, which would be on the high end of the spectrum in rents, estimated to be in the mid-$30-per-sf range.
The Citizens and VistaPrint space quests join several requirements already circulating in suburban Boston, with Astra Tech on the short strokes of leasing all 85,000 sf at 590 Lincoln St. in Waltham while Amag Pharmaceuticals has supposedly committed to 100 Hayden Ave. in Lexington, a Boston Properties building. That lease for 56,000 sf was reported by GlobeSt.com on Feb. 25.
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